Pros and cons of student loan forgiveness plan
SHERMAN, Texas (KTEN) — President Biden has followed through on his campaign promise to address the burden of student debt.
Borrowers who earn less than $125,000 a year ($250,000 for couples) will be eligible to have $10,000 in student loans forgiven.
Roice Moss is one of the local residents we interviewed at Sherman Town Center who disapproves of the action.
"We have too many kids that've already been through college... adults that've been through college... that have had to pay back everything they borrowed, so... not right," she said.
"You're still going to have to pay a lot more taxes on the other side of this because somebody has to pay this money back," added Katrina Ross.
But Austin College vice president Baylee Kowert thinks the loan forgiveness program will help those struggling with student loan debt.
"It's exciting. It is going to have a widespread impact on our current students, our alumni, and our families who have sent their students to this college," she said.
And that enthusiasm is shared by recent Austin College graduate Kristyn Reeves.
"The news brought a lot of relief," she said. "As we are out here starting our careers, it is really going to help with our monthly budgets."